After years of working and saving for a future for yourself and your family, you and your spouse have decided to end your marriage. During the divorce process, most clients immediately understand that the assets need to be divided. Assets include everything from debts to the money in the bank account, to the house and the items in the junk drawer (provided that it is not trash hiding in that collect all drawer). Assets also include that retirement plan on which you have been diligently working.

Who Gets the Retirement?

You earned the retirement, so naturally, you are hoping that you are the one who gets to keep the retirement plan. The reality is, retirement is an employment benefit, just like any income earned. Additionally, any profits obtained during the duration of the marriage up until the date of separation are a part of the community property. As you may know, California is a community property state, meaning that everything valued to be community property is divided equally between the two parties at the time of the dissolution of marriage.